A different trend has been seen in the Indian market for some time. This trend is of selling the next day after a good rise one day. After Monday's rise, something similar was seen on Tuesday as well. It is now becoming challenging for Nifty to cross the upper levels of 9 and 10 October. On Tuesday also, Nifty saw a reversal from 25,207. Despite positive signals from the global front, pressure was seen in the market yesterday. After the results, Reliance Industries put pressure on the major index yesterday. But ICICI Bank also managed the index.

After the launch of Hyundai Motor India IPO, selling pressure was also seen in auto stocks. This IPO got 18% subscription on the first day. Now, since consolidation is being seen in Nifty, the important levels are almost the same. The index will now have to remain at the upper level of last Thursday i.e. 25134, only then will there be confidence on further growth.

Most of the results came during market hours on Tuesday. The first reaction on the results of KEI Industries will be seen today. Today the second quarter results of Bajaj Auto will be released. Apart from this, other companies including LTTS, Mphasis, Himadri Speciality Chemicals, South Indian Bank and Tips Industries will release the results of the September quarter. Signals from global markets Due to the decrease in demand for crude oil and chips at the global level, pressure was seen on the US market yesterday. Most of the indices closed at the lower levels of the day. The stock fell 17% after weak guidance from chip equipment maker ASML. After this, pressure was also seen in other chip stocks including Nvidia. US officials have held talks about putting a cap on the sale of advanced AI chips to different countries. After this, pressure was seen on chip companies. Talking about Asian markets, there is a decline here too today. Japan's Nikkei index is trading down by about 2%. Hong Kong's Hang Seng index is up by half a percent. Taiwan index is trading down by about 1%. South Korea's Kospi index is also trading down by more than 1%. Crude oil movement The decline in crude oil continues in the international market. The price of Brent crude oil has now come down to $ 74 per barrel. The pressure on crude oil has also increased due to lack of clarity on major relief measures for the economy from China. The decline in crude oil in global markets is not considered positive. Because, this decline is due to weakness in demand, the effect of which can be seen on economies in the future. FIIs - DIIs figures The continuous selling by foreign institutional investors continued yesterday as well. However, domestic institutional investors remain net buyers in the cash market. Outlook for Nifty today Jai Bala of Cashthechaos.com expects Nifty to return to the level of 25,480 - 25,650. But, before this the index will have to reverse from the level of 24,694. He said that on the upside, there is resistance for the index at the level of 25,650. Whereas, on the downside, there is support at the level of 23,890 - 23,800. Rajesh Bhosale of Angel One said that on the daily chart, Nifty seems to be stuck between 20-DEMA and 50-DEMA. 25,250 is acting as a resistance for the index. Whereas, there is support in the zone of 25,000 - 24,900. He said that until there is a breakout, one should adopt the strategy of buying on dips and selling at higher levels.